8:55 Welcome and Introductions
9:00 Refashioning Irrevocable Trusts
Elizabeth K. Arias, Womble Bond Dickinson (U.S.) LLP, Raleigh
With the adoption of the Uniform Trust Code and the Uniform Trust Decanting Act, irrevocable trusts rarely are truly irrevocable. Review the various statutory provisions that permit the modification of irrevocable trusts and when the provisions may be available for use by the trustee and/or beneficiaries. Then walk through the process for using the applicable statutory provisions and virtual representation. These topics are even more relevant now in an advanced planning landscape where the focus has often shifted away from transfer tax planning.
10:00 Break
10:10 Federal Income Taxation of Trusts
Sherwood C. "Chris" Henderson, White & Allen PA, New Bern
Never before has the income taxation of trusts been more important to the advanced estate planner. Dive into the taxation of grantor and non-grantor trusts in a world where income tax planning is often more pertinent than transfer tax planning.
11:10 Break
11:20 Charitable Giving
C. Barton "Bart" Landess, Catawba Lands Conservancy, Charlotte
There are many options available to clients with charitable planning goals. However, certain strategies may be affected by the new tax law and the current interest rate environment, and others have been subject to increased IRS scrutiny. Private foundations and donor-advised funds are increasingly popular, but there are potential downsides to each. During this session, explore the various charitable planning tools and review charitable planning opportunities in the current environment.
12:20 Lunch Break
12:50 Will Caveats
Stephen J. "Steve" Grabenstein, The Van Winkle Law Firm, Asheville
Following a discussion of probating wills in common form and solemn form, hear about the procedural and substantive legal issues that arise in the context of a will caveat.
1:50 Break
2:00 Asset Protection for Estate Planners
David T. Lewis, Johnston Allison & Hord PA, Charlotte
Holly B. Norvell, Johnston Allison & Hord PA, Charlotte
This in-depth presentation addresses why the estate planner is uniquely positioned to offer asset protection services and provides specific North Carolina asset protection techniques to add to the estate planner’s toolbox. The discussion presents client case studies and examines federal bankruptcy law and North Carolina state exemptions in the context of planning opportunities. For the experienced asset protection planner, recent case law and emerging trends in domestic asset protection law are discussed with a view toward practical application.
3:00 Break
3:10 Basis Planning
Elinor J. "Elie" Foy, Womble Bond Dickinson (U.S.) LLP, Raleigh
Basis planning is the new black in estate planning. Under the new tax law, very few clients are going to be impacted by transfer taxes. Learn how the higher transfer tax exemption levels provide opportunities for basis planning that clients should be able to expect from advanced estate planners.
4:10 Adjourn
Thank you for joining us for the 2021 Advanced Estate Planning and Fiduciary Law Survey Course CLE.
Designed as a survey for individuals who practice routinely in the area of estate planning and have several years of prior experience, this program addresses a series of advanced topics, presented by estate planning practitioners.
Elizabeth K. "Liz" Arias is a Partner with Womble Bond Dickinson (U.S.) LLP in Raleigh. She provides a wide array of estate planning, fiduciary litigation, tax planning and private wealth services to clients who are seeking to strategically manage their wealth in a way that allows them to achieve their estate planning goals and objectives and to do so as tax efficiently as possible. Areas in which she regularly advises clients include use of irrevocable trusts, including modification and termination of existing trusts, gifting strategies, complex estate planning, formation of limited liability companies (LLCs), family limited partnerships or other closely held family businesses and generational planning, including dynasty trusts.
Liz is a member of the American College of Trusts and Estates Council (ACTEC). She is a past chair of the Estate Planning and Fiduciary Law section of the North Carolina Bar Association. She is an active member of the Legislative Committee for the Estate Planning and Fiduciary Law section with over 15 years of experience assisting in drafting North Carolina's trusts and estate legislation.
Liz earned her B.A. fromt the University of North Carolina at Chapel Hill and her J.D., summa cum laude, from Campbell University Norman Adrian Wiggins School of Law.
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Charles E. "Charlie" Davis III is a partner with Poyner Spruill LLP in Raleigh. He advises clients on estate and trust planning issues, including the implications of estate, gift, GST, and income taxes. He also advises executors and trustees in the administration of estate and trusts. In addition, he advises businesses and business owners on general corporate issues, tax issues, and succession planning.
Charlie is a Board-Certified Specialist in Estate Planning and Probate Law by the North Carolina State Bar Board of Legal Specialization. He is a member of the North Carolina Bar Association's Estate Planning and Fiduciary Law Section.
Charlie earned his B.S., with highest distinction, from the University of North Carolina at Chapel Hill and his J.D., with high honors, from the University of North Carolina at Chapel Hill School of Law.
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Elinor J. "Elie" Foy is a partner at Wyrick Robbins Yates & Ponton in Raleigh. Her practice focuses on wealth transfer planning, charitable planning, and trust and estate administration. She advises individual clients on various estate planning issues, including the tax-efficient transfer of wealth and business succession planning. In addition, she advises private foundations, supporting organizations, public charities and other nonprofit organizations about governance, tax compliance, grant-making, and fundraising issues.
Elie is a Fellow in the American College of Trust and Estate Counsel and is certified as a Specialist in Estate Planning and Probate Law by the North Carolina State Bar Board of Legal Specialization. She is a frequent speaker on trusts and estates topics.
Elie earned her B.A. from the University of North Carolina at Chapel Hill, her J.D. from Wake Forest University, where she was a Dean's Merit Scholar, and her LL.M. in Taxation from Georgetown University, with distinction.
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Stephen J. "Steve" Grabenstein is the President of the Van Winkle Law Firm in Asheville where he focuses his practice on will contests, business disputes, trust and estate disputes, wrongful death and personal injury claims and fiduciary related claims. As a talented litigator, Steve has handled numerous will caveat proceedings, complex commercial actions, wrongful death and personal injury suits, suits involving trusts and trustees, and fiduciary litigation. Steve is also a certified mediator and, in that role, and as a member of arbitration panels has helped hundreds of individuals negotiate and settle a wide variety of cases. Steve has also been trained in the collaborative law approach to resolving disputes outside of court.
Steve is listed in The Best Lawyers in America® 2020, Asheville Area for commercial litigation, litigation – trusts and estates and trusts and estates. He is a member of the Buncombe County and North Carolina Bar Associations and the Tennessee State Bar. He received his B.A. degree with honors from the University of Tennessee in 1979 and his J.D. degree from the University of Tennessee in 1982.
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Sherwood C. "Chris" Henderson is a shareholder of White & Allen PA in its New Bern office. He practices in the areas of estate planning, estate and trust administration, business planning, business entity taxation, qualified retirement plans, and tax-exempt organizations.
Chris is a Certified Pension Consultant (CPC) as credentialed through the American Society of Pension Professionals and Actuaries (ASPPA). He is a Board-Certified Specialist in Estate Planning and Probate Law as designated by the North Carolina State Bar Board of Legal Specialization. Chris is a current member of the North Carolina State Bar Estate Planning and Probate Law Specialty Committee. He is a current member of the North Carolina Bar Association Estate Planning and Fiduciary Law Section Legislative Committee and is a former Council member.
Chris received his B.A. degree in Spanish from Davidson College and his J.D. degree from Campbell University School of Law. He received his Master of Laws (LL.M.) in taxation from Villanova University School of Law.
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Marc W. Ingersoll is the managing partner of Ingersoll Firm PLLC in Winston-Salem. The focus of his practice is in the areas of wills and trusts, elder law, estate administration, business and tax law. His experience includes the preparation of simple and complex estate planning documents advising clients of the transfer tax consequences of various estate planning transactions; the establishment of new limited liability companies (LLC'S) and corporations; and the representation of clients in estate administration.
Marc is a member of the Forsyth County Bar, North Carolina Bar Association and The Estate Planning Council of Winston-Salem. He is also a member of The National Academy of Elder Law Attorneys.
Marc received his B.S. degree in Accounting from Bob Jones University in 1986 and his J.D. degree, graduating with distinction, from Wake Forest University School of Law in 1990.
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C. Barton "Bart" Landess is the executive director of Catawba Lands Conservancy in Charlotte. Bart brings nearly 30 years of fundraising and nonprofit experience to the Conservancy and the Thread Trail. He came from the YMCA of Greater Charlotte where he served for eight years as Vice President of Major and Planned Gifts.
Prior to this, Bart worked at the Foundation For The Carolinas in development and planned giving. He is a graduate of Davidson College, where he also worked as Assistant Vice President of Major and Planned Gifts, then General Counsel and the President's Executive Assistant. Prior to that he practiced law at Smith Helms Mulliss & Moore.
Bart received his law degree from the University of Virginia in Charlottesville and has always been a lover of the land.
Bart, his wife and his four children all enjoy the outdoors, especially skiing. Bart is former Chair of the North Carolina Planned Giving Council. He's also a founding member of the Institute of Philanthropy and Leadership Gift School and a former Board member of Legal Services of the Southern Piedmont (now Charlotte Center for Legal Advocacy) and former Deacon and member of the Session of First Presbyterian Church. He was part of the Charlotte Chapter of American Leadership Forum's Class V.
David T. Lewis is a partner with Johnston, Allison & Hord in Charlotte, North Carolina. His practice is a mix of estate planning, estate administration, business succession planning, and fiduciary litigation. With more than 25 years of practice in these areas, he has helped clients navigate through difficult tax and personal situations.
David received a B.S./B.A. degree from the University of Richmond, a J.D. degree from the Cumberland School of Law at Samford University, and his LL.M. degree in Taxation from the University of Alabama. He is a Fellow of the American College of Trust and Estate Council and is very active in the Estate Planning and Fiduciary Law Section of the North Carolina Bar Association, previously serving on that Section';s Council, and currently he serves as the Section Treasurer.
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Holly B. Norvell is a partner with Johnston Allison & Hord PA in Charlotte. She is a Board-Certified Specialist in Estate Planning and Probate Law and a Fellow of the American College of Trust and Estate Counsel. Her principal areas of practice are estate planning and probate, taxation, business succession planning and charitable planning.
Holly is a member of the Estate Planning & Fiduciary Law Section of the North Carolina Bar Association. She is also a member of the American Bar Association, Mecklenburg County Bar and the State Bar of Texas. She is a Certified Public Accountant and is licensed to practice law in North Carolina and Texas.
Holly received her B.B.A. in Accounting, with high honors, in 1996, her M.P.A. in Taxation in 1996 and her J.D., with honors, in 2002, all from the University of Texas.
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